The global industrial chain drives the market size and is poised to grow remarkably from 2023 to 2033. According to the research report published by Future Market Insights, the global market is projected to surpass a valuation of US$ 4.6 billion in 2023. It is predicted to hit a valuation of US$ 6.5 billion by 2033. The market is foreseen to record a CAGR of 3.6% from 2023 to 2033.
Industrial automation, increased production, infrastructure development, the energy and power generating sector, and new developments in technology in chain drive technology are some reasons contributing to the rising industrial chain drives market.
| Attributes | Details |
|---|---|
| Industrial Chain Drives Market Share (2022) | US$ 4.4 billion |
| Industrial Chain Drives Market Share (2023) | US$ 4.6 billion |
| Industrial Chain Drives Market Share (2033) | US$ 6.5 billion |
| Industrial Chain Drives Market Share (2023 to 2033) | 3.6% |
Key Factors Fueling the Demand for Industrial Chain Drives:
Challenges in the Industrial Chain Drives Industry:
Opportunities in the Industrial Chain Drives Industry:
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The global industrial chain drives industry size developed at a CAGR of 4.4% from 2018 to 2022. In 2018, the global market size stood at US$ 3.7 billion. The market witnessed significant growth in the following years, accounting for US$ 4.4 billion in 2022.
The manufacturing industry has undergone notable growth in recent years on an international scale. Factors including population growth, urbanization, and increased disposable incomes significantly contribute to this rise. Chain drives are widely used in the industrial sector to transmit power in a variety of machines and equipment, including pumps, compressors, and machine tools. Thus, the demand for chain drives has expanded as a result of the growing manufacturing industry.
Power transmission systems are witnessing increased demand as industrial automation becomes a bigger focus. Conveyors, packing equipment, and assembly lines are just a few examples of industrial applications where chain drives are frequently employed due to their durability and capacity to carry heavy loads. Chain drives are more in demand as many industries strive to automate their workflows.
| Historical CAGR (2018 to 2022) | 4.4% |
|---|---|
| Forecasted CAGR (2023 to 2033) | 3.6% |
According to the segmentation based on type, the double-pitch chain segment is anticipated to dominate the global market. As per FMI, the double pitch chain segment is projected to thrive at a CAGR of 3.4% from 2023 to 2033.
There are many different sizes and specifications of double-pitch chains available on the market from different manufacturers. Because of their accessibility and standardization, they are compatible with a variety of industrial systems and equipment. In contrast to certain other types of chains, double-pitch chains provide a financially viable option for power transmission. They might be a cost-effective option for applications with low loads and speeds since they are often less expensive to manufacture. Additionally, they are relatively easy to install and replace, further propelling their market demand.
According to the segmentation based on end user, the manufacturing sector is predicted to emerge dominant during the forecast period. As per FMI, the manufacturing end-user segment is slated to exhibit a CAGR of 3.2% from 2023 to 2033.
A broad spectrum of sectors is encompassed in the manufacturing sector, including textiles, food and beverage, electronics, pharmaceuticals, and the food and beverage industry. Each of these industries needs power transmission systems for different kinds of machinery and equipment. In manufacturing, chain drives are widely used in equipment, including conveyors, packing machines, material handling systems, and assembly lines.
Manufacturing is a large user of industrial chain drives due to the variety of applications and needs it encounters. The need for chain drives in the manufacturing industry is also anticipated to increase as the trend toward industrial automation continues to increase.
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The Asia Pacific region has been playing a significant role in the market for industrial chain drives. Numerous causes, including the region's swift industrialization, strong manufacturing sector, and the presence of growing economies like China, India, and Japan, are to be accredited for this.
According to Future Market Insights, China is predicted to showcase a CAGR of 3.5% from 2023 to 2033. Due to its strong manufacturing sector as well as rapid industrialization, China is experiencing tremendous expansion in the market for industrial chain drives. The nation's measures to support automated manufacturing, technological progress, and advanced manufacturing are driving market growth.
For instance, the Make in China 2025 program, which the Chinese government established, aims to modernize the manufacturing sector through technical improvements, automation, and innovation. This program promotes demand for cutting-edge power transmission products, including industrial chain drives. Likewise, China's Belt and Road Initiative intends to improve infrastructure development and commercial connections throughout Asia, Europe, and Africa. Infrastructure projects have expanded as a result of this endeavor, creating lucrative opportunities for the industrial chain that drives the industry.
Japan is anticipated to thrive at a 3.5% CAGR from 2023 to 2033. The concept of Industry 4.0, which stresses automation, data exchange, and intelligent manufacturing, has been extensively promoted by Japan. The implementation of smart factories and efficient production processes depends on the integration of sophisticated power transmission systems, including chain drives.
The development of cutting-edge chain drive technology has been spearheaded by Japanese businesses. For enhanced efficacy and performance, improvements have been made in lightweight chain drives, precise chain drives, and improved lubrication systems, which stimulate the market growth for industrial chain drives.
As per FMI, the market in the United States is predicted to expand at a CAGR of 3.5% from 2023 to 2033. To increase efficiency and competitiveness, the United States industrial sector has adopted automation and robots extensively.
Chain drives are essential for driving automated systems, which helps the industry grow. In the American manufacturing industry, energy efficiency and sustainability are becoming more and more important. To lessen their influence on the environment, manufacturers are using energy-efficient industrial chain drives and sustainable procedures, which are ultimately driving market growth.
| Country | Forecasted CAGR (2023 to 2033) |
|---|---|
| United States | 3.5% |
| United Kingdom | 3.3% |
| China | 3.5% |
| Japan | 3.5% |
| South Korea | 3.2% |
There are several notable players, including manufacturers, suppliers, and distributors, that make up the competitive landscape of the global market. The competition between these businesses is based on aspects like product quality, performance, dependability, customizability options, cost, and customer service.
Key players collaborate and develop strategic alliances with other industry participants, such as distributors, OEMs, and technology suppliers, to expand their market reach, enter untapped areas, and make use of their complementary capabilities. Companies establish mergers, acquisitions, and strategic alliances to improve their competitiveness, increase capacity, and get access to emerging technology or market niches. Companies can achieve economies of scale, synergies, and a wider market reach due to these strategies.
Key Players in the Global Market:
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| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | US$ million for Value |
| Key Regions Covered | North America; Latin America; Europe; Asia Pacific; The Middle East & Africa (MEA) |
| Key Countries Covered | The United States, Canada, Germany, The United Kingdom, Nordic, Russia, BENELUX, Poland, France, Spain, Italy, Czech Republic, Hungary, Rest of EMEAI, Brazil, Peru, Argentina, Mexico, South Africa, Northern Africa, GCC Countries, China, Japan, South Korea, India, ASEAN, Thailand, Malaysia, Indonesia, Australia, New Zealand, Others |
| Key Segments Covered | Type, End User, Region |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Trend Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The industrial chain drives market is expected to reach US$ 4.6 billion in 2023.
The market is anticipated to expand at a CAGR of 3.6%.
Expansion of sectors like construction, manufacturing, mining, etc., and updation of outdated machinery.
Emergence of alternative power transmission methods and fluctuation products costs of chain.
Increasing adoption of industrial automation is creating growth prospects in the market.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyer’s 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.9.2. By Key Countries 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 4.1. Historical Market Size Value (US$ Million) & Volume (Meters) Analysis, 2018 to 2022 4.2. Current and Future Market Size Value (US$ Million) & Volume (Meters) Projections, 2023 to 2033 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) & Volume (Meters) Analysis By Type, 2018 to 2022 5.3. Current and Future Market Size Value (US$ Million) & Volume (Meters) Analysis and Forecast By Type, 2023 to 2033 5.3.1. Single-strand chain 5.3.2. Double pitch chain 5.3.3. Multi-strand chain 5.4. Y-o-Y Growth Trend Analysis By Type, 2018 to 2022 5.5. Absolute $ Opportunity Analysis By Type, 2023 to 2033 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-User 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) & Volume (Meters) Analysis By End-User, 2018 to 2022 6.3. Current and Future Market Size Value (US$ Million) & Volume (Meters) Analysis and Forecast By End-User, 2023 to 2033 6.3.1. Manufacturing 6.3.2. Mining 6.3.3. Agriculture 6.3.4. Construction 6.3.5. Others 6.4. Y-o-Y Growth Trend Analysis By End-User, 2018 to 2022 6.5. Absolute $ Opportunity Analysis By End-User, 2023 to 2033 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. Introduction 7.2. Historical Market Size Value (US$ Million) & Volume (Meters) Analysis By Region, 2018 to 2022 7.3. Current Market Size Value (US$ Million) & Volume (Meters) Analysis and Forecast By Region, 2023 to 2033 7.3.1. North America 7.3.2. Latin America 7.3.3. Europe 7.3.4. Asia Pacific 7.3.5. MEA 7.4. Market Attractiveness Analysis By Region 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 8.1. Historical Market Size Value (US$ Million) & Volume (Meters) Trend Analysis By Market Taxonomy, 2018 to 2022 8.2. Market Size Value (US$ Million) & Volume (Meters) Forecast By Market Taxonomy, 2023 to 2033 8.2.1. By Country 8.2.1.1. U.S. 8.2.1.2. Canada 8.2.2. By Type 8.2.3. By End-User 8.3. Market Attractiveness Analysis 8.3.1. By Country 8.3.2. By Type 8.3.3. By End-User 8.4. Key Takeaways 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9.1. Historical Market Size Value (US$ Million) & Volume (Meters) Trend Analysis By Market Taxonomy, 2018 to 2022 9.2. Market Size Value (US$ Million) & Volume (Meters) Forecast By Market Taxonomy, 2023 to 2033 9.2.1. By Country 9.2.1.1. Brazil 9.2.1.2. Mexico 9.2.1.3. Rest of Latin America 9.2.2. By Type 9.2.3. By End-User 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Type 9.3.3. By End-User 9.4. Key Takeaways 10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10.1. Historical Market Size Value (US$ Million) & Volume (Meters) Trend Analysis By Market Taxonomy, 2018 to 2022 10.2. Market Size Value (US$ Million) & Volume (Meters) Forecast By Market Taxonomy, 2023 to 2033 10.2.1. By Country 10.2.1.1. Germany 10.2.1.2. U.K. 10.2.1.3. France 10.2.1.4. Spain 10.2.1.5. Italy 10.2.1.6. Rest of Europe 10.2.2. By Type 10.2.3. By End-User 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Type 10.3.3. By End-User 10.4. Key Takeaways 11. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11.1. Historical Market Size Value (US$ Million) & Volume (Meters) Trend Analysis By Market Taxonomy, 2018 to 2022 11.2. Market Size Value (US$ Million) & Volume (Meters) Forecast By Market Taxonomy, 2023 to 2033 11.2.1. By Country 11.2.1.1. China 11.2.1.2. Japan 11.2.1.3. South Korea 11.2.1.4. Singapore 11.2.1.5. Thailand 11.2.1.6. Indonesia 11.2.1.7. Australia 11.2.1.8. New Zealand 11.2.1.9. Rest of Asia Pacific 11.2.2. By Type 11.2.3. By End-User 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Type 11.3.3. By End-User 11.4. Key Takeaways 12. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12.1. Historical Market Size Value (US$ Million) & Volume (Meters) Trend Analysis By Market Taxonomy, 2018 to 2022 12.2. Market Size Value (US$ Million) & Volume (Meters) Forecast By Market Taxonomy, 2023 to 2033 12.2.1. By Country 12.2.1.1. GCC Countries 12.2.1.2. South Africa 12.2.1.3. Israel 12.2.1.4. Rest of MEA 12.2.2. By Type 12.2.3. By End-User 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Type 12.3.3. By End-User 12.4. Key Takeaways 13. Key Countries Market Analysis 13.1. U.S. 13.1.1. Pricing Analysis 13.1.2. Market Share Analysis, 2022 13.1.2.1. By Type 13.1.2.2. By End-User 13.2. Canada 13.2.1. Pricing Analysis 13.2.2. Market Share Analysis, 2022 13.2.2.1. By Type 13.2.2.2. By End-User 13.3. Brazil 13.3.1. Pricing Analysis 13.3.2. Market Share Analysis, 2022 13.3.2.1. By Type 13.3.2.2. By End-User 13.4. Mexico 13.4.1. Pricing Analysis 13.4.2. Market Share Analysis, 2022 13.4.2.1. By Type 13.4.2.2. By End-User 13.5. Germany 13.5.1. Pricing Analysis 13.5.2. Market Share Analysis, 2022 13.5.2.1. By Type 13.5.2.2. By End-User 13.6. U.K. 13.6.1. Pricing Analysis 13.6.2. Market Share Analysis, 2022 13.6.2.1. By Type 13.6.2.2. By End-User 13.7. France 13.7.1. Pricing Analysis 13.7.2. Market Share Analysis, 2022 13.7.2.1. By Type 13.7.2.2. By End-User 13.8. Spain 13.8.1. Pricing Analysis 13.8.2. Market Share Analysis, 2022 13.8.2.1. By Type 13.8.2.2. By End-User 13.9. Italy 13.9.1. Pricing Analysis 13.9.2. Market Share Analysis, 2022 13.9.2.1. By Type 13.9.2.2. By End-User 13.10. China 13.10.1. Pricing Analysis 13.10.2. Market Share Analysis, 2022 13.10.2.1. By Type 13.10.2.2. By End-User 13.11. Japan 13.11.1. Pricing Analysis 13.11.2. Market Share Analysis, 2022 13.11.2.1. By Type 13.11.2.2. By End-User 13.12. South Korea 13.12.1. Pricing Analysis 13.12.2. Market Share Analysis, 2022 13.12.2.1. By Type 13.12.2.2. By End-User 13.13. Singapore 13.13.1. Pricing Analysis 13.13.2. Market Share Analysis, 2022 13.13.2.1. By Type 13.13.2.2. By End-User 13.14. Thailand 13.14.1. Pricing Analysis 13.14.2. Market Share Analysis, 2022 13.14.2.1. By Type 13.14.2.2. By End-User 13.15. Indonesia 13.15.1. Pricing Analysis 13.15.2. Market Share Analysis, 2022 13.15.2.1. By Type 13.15.2.2. By End-User 13.16. Australia 13.16.1. Pricing Analysis 13.16.2. Market Share Analysis, 2022 13.16.2.1. By Type 13.16.2.2. By End-User 13.17. New Zealand 13.17.1. Pricing Analysis 13.17.2. Market Share Analysis, 2022 13.17.2.1. By Type 13.17.2.2. By End-User 13.18. GCC Countries 13.18.1. Pricing Analysis 13.18.2. Market Share Analysis, 2022 13.18.2.1. By Type 13.18.2.2. By End-User 13.19. South Africa 13.19.1. Pricing Analysis 13.19.2. Market Share Analysis, 2022 13.19.2.1. By Type 13.19.2.2. By End-User 13.20. Israel 13.20.1. Pricing Analysis 13.20.2. Market Share Analysis, 2022 13.20.2.1. By Type 13.20.2.2. By End-User 14. Market Structure Analysis 14.1. Competition Dashboard 14.2. Competition Benchmarking 14.3. Market Share Analysis of Top Players 14.3.1. By Regional 14.3.2. By Type 14.3.3. By End-User 15. Competition Analysis 15.1. Competition Deep Dive 15.1.1. Rexnord Corporation 15.1.1.1. Overview 15.1.1.2. Product Portfolio 15.1.1.3. Profitability by Market Segments 15.1.1.4. Sales Footprint 15.1.1.5. Strategy Overview 15.1.1.5.1. Marketing Strategy 15.1.1.5.2. Product Strategy 15.1.1.5.3. Channel Strategy 15.1.2. Tsubakimoto Chain 15.1.2.1. Overview 15.1.2.2. Product Portfolio 15.1.2.3. Profitability by Market Segments 15.1.2.4. Sales Footprint 15.1.2.5. Strategy Overview 15.1.2.5.1. Marketing Strategy 15.1.2.5.2. Product Strategy 15.1.2.5.3. Channel Strategy 15.1.3. Martin Sprocket & Gear 15.1.3.1. Overview 15.1.3.2. Product Portfolio 15.1.3.3. Profitability by Market Segments 15.1.3.4. Sales Footprint 15.1.3.5. Strategy Overview 15.1.3.5.1. Marketing Strategy 15.1.3.5.2. Product Strategy 15.1.3.5.3. Channel Strategy 15.1.4. SKF 15.1.4.1. Overview 15.1.4.2. Product Portfolio 15.1.4.3. Profitability by Market Segments 15.1.4.4. Sales Footprint 15.1.4.5. Strategy Overview 15.1.4.5.1. Marketing Strategy 15.1.4.5.2. Product Strategy 15.1.4.5.3. Channel Strategy 15.1.5. Gates Corporation 15.1.5.1. Overview 15.1.5.2. Product Portfolio 15.1.5.3. Profitability by Market Segments 15.1.5.4. Sales Footprint 15.1.5.5. Strategy Overview 15.1.5.5.1. Marketing Strategy 15.1.5.5.2. Product Strategy 15.1.5.5.3. Channel Strategy 15.1.6. Dayco 15.1.6.1. Overview 15.1.6.2. Product Portfolio 15.1.6.3. Profitability by Market Segments 15.1.6.4. Sales Footprint 15.1.6.5. Strategy Overview 15.1.6.5.1. Marketing Strategy 15.1.6.5.2. Product Strategy 15.1.6.5.3. Channel Strategy 15.1.7. Wittenstein AG 15.1.7.1. Overview 15.1.7.2. Product Portfolio 15.1.7.3. Profitability by Market Segments 15.1.7.4. Sales Footprint 15.1.7.5. Strategy Overview 15.1.7.5.1. Marketing Strategy 15.1.7.5.2. Product Strategy 15.1.7.5.3. Channel Strategy 15.1.8. Iwis 15.1.8.1. Overview 15.1.8.2. Product Portfolio 15.1.8.3. Profitability by Market Segments 15.1.8.4. Sales Footprint 15.1.8.5. Strategy Overview 15.1.8.5.1. Marketing Strategy 15.1.8.5.2. Product Strategy 15.1.8.5.3. Channel Strategy 15.1.9. RAJA Chain 15.1.9.1. Overview 15.1.9.2. Product Portfolio 15.1.9.3. Profitability by Market Segments 15.1.9.4. Sales Footprint 15.1.9.5. Strategy Overview 15.1.9.5.1. Marketing Strategy 15.1.9.5.2. Product Strategy 15.1.9.5.3. Channel Strategy 15.1.10. Tsurumi Manufacturing 15.1.10.1. Overview 15.1.10.2. Product Portfolio 15.1.10.3. Profitability by Market Segments 15.1.10.4. Sales Footprint 15.1.10.5. Strategy Overview 15.1.10.5.1. Marketing Strategy 15.1.10.5.2. Product Strategy 15.1.10.5.3. Channel Strategy 16. Assumptions & Acronyms Used 17. Research Methodology
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Industrial Chain Drives Market
